How can you manage conflicts of interest in IT strategy governance and leadership?

1 Define roles and responsibilities

One of the first steps to manage conflicts of interest is to clearly define the roles and responsibilities of the IT strategy governance and leadership team, as well as the stakeholders and beneficiaries of the IT strategy. This can help to establish the scope, authority, and accountability of each party, and to avoid overlapping or conflicting interests. For example, you can use a RACI matrix (Responsible, Accountable, Consulted, Informed) to assign and communicate the roles and responsibilities of each team member and stakeholder.

2 Disclose and document conflicts

Another important step is to disclose and document any actual, potential, or perceived conflicts of interest that may arise in the IT strategy governance and leadership process. This can help to create a culture of openness and honesty, and to prevent hidden or undisclosed conflicts that may compromise the integrity or credibility of the IT strategy. For example, you can use a conflict of interest policy and a register to define the types, levels, and procedures of disclosing and documenting conflicts of interest.

3 Assess and mitigate impacts

The next step is to assess and mitigate the impacts of the disclosed or documented conflicts of interest on the IT strategy governance and leadership process and outcomes. This can help to determine the severity, likelihood, and consequences of the conflicts, and to implement appropriate measures to reduce or eliminate them. For example, you can use a risk matrix and a mitigation plan to assess and mitigate the impacts of the conflicts of interest.

4 Monitor and review conflicts

The final step is to monitor and review the conflicts of interest and the mitigation measures on a regular basis. This can help to ensure that the conflicts of interest are effectively managed, and that the mitigation measures are working as intended. It can also help to identify any new or emerging conflicts of interest, and to adjust the mitigation measures accordingly. For example, you can use a monitoring and review framework and a reporting system to monitor and review the conflicts of interest and the mitigation measures.

By following these steps, you can manage conflicts of interest in IT strategy governance and leadership in a proactive, transparent, and ethical way. This can help to enhance the quality, reliability, and value of the IT strategy, and to foster a positive and collaborative relationship among the IT strategy team and stakeholders.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?